HIGHLIGHTS
April 11 2023
Global Markets
Risk-off sentiment continued to moderate, as several indicators of financial stress are modestly easing after last month’s banking sector turmoil, while in FX markets, the JPY weakened broadly on dovish comments from BoJ Governor Ueda in his inaugural press conference yesterday.
Greece
According to ELSTAT, the annual inflation rate remained on a downward trajectory for a sixth month in a row in Mar-23. Specifically, the annual change in the overall HICP stood at 5.4%, from 6.5% in Feb-23; according to the Governor’s Annual Report 2022, the BoG estimates the 12-month average annual inflation rate at 4.4% in 2023, from 9.3% in 2022.
CESEE
Mixed signs over the performance of the Bulgarian economy based on February’s hard data; industrial output shrunk by 1.8%YoY in calendar-adjusted terms while retail sales increased by 4.3%YoY in calendar-adjusted terms, easing from 5.6%YoY in January.
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